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Consolidated Statements of Net Income - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Net sales $ 2,184.5 $ 2,208.0 $ 6,650.1 $ 6,886.8
Cost of sales (1,744.4) (1,781.6) (5,326.7) (5,550.9)
Gross profit 440.1 426.4 1,323.4 1,335.9
Selling, general and administrative expenses (101.3) (101.0) (303.1) (308.1)
Research, development and engineering expenses, net (130.4) (135.7) (397.2) (412.7)
Amortization of intangibles (4.2) (4.1) (11.2) (12.4)
Other income (expense), net (46.4) (10.8) (165.4) (96.8)
Operating income 157.8 174.8 446.5 505.9
Income from equity method investments 0.6 1.4 3.5 5.8
Interest income 0.8 1.6 1.8 4.1
Interest expense (15.6) (19.4) (49.6) (45.2)
Other non-operating items, net 8.2 (1.9) 8.6 (6.9)
Income before income taxes 151.8 156.5 410.8 463.7
Income tax expense (52.7) (49.8) (139.2) (142.7)
Net income 99.1 106.7 271.6 321.0
Less: Net income attributable to non-controlling interest 0.2 0.2 0.3 1.4
Net income attributable to controlling interest $ 98.9 $ 106.5 $ 271.3 $ 319.6
Net earnings per share - basic $ 1.12 $ 1.16 $ 3.08 $ 3.44
Net earnings per share - diluted $ 1.12 $ 1.16 $ 3.07 $ 3.43
Weighted average number of shares outstanding, net of treasury shares (in millions) 88.1 91.6 88.2 92.9
Weighted average number of shares outstanding, assuming dilution and net of treasury shares (in millions) 88.3 91.9 88.4 93.2
Number of shares outstanding, excluding dilution and net of treasury shares (in millions) 88.1 90.5 88.1 90.5
Cash dividend per share - declared $ 0.56 $ 0.54 $ 1.68 $ 1.60
Cash dividend per share - paid $ 0.56 $ 0.54 $ 1.66 $ 1.58